Nearly all CHUM shares tendered.
Canada's Bell Globemedia Inc. has succeeded in its $1.4 billion (Canadian) takeover of Toronto-based broadcaster CHUM Ltd. announced last month. CHUM Ltd. is operator of stations including CHUM-AM and CHUM-FM radio and CITY-TV in Toronto as well as the national video channel MuchMusic.
Bell Globemedia Inc. is owner of The Globe and Mail newspaper in Toronto and the national CTV television network in Canada.
More than 99% of CHUM's common voting stock and 93% of its Class B non-voting shares were tendered to Bell Globemedia's offer, the company announced yesterday (Aug. 31). Bell Globemedia has extended its offer to remaining CHUM shareholders until Sept. 12. The deal still requires regulatory approval by the Canadian government.